HighTower Advisors LLC Grows Stock Position in Smartsheet Inc (NYSE:SMAR)

HighTower Advisors LLC grew its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 2.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 50,361 shares of the company’s stock after purchasing an additional 1,105 shares during the quarter. HighTower Advisors LLC’s holdings in Smartsheet were worth $2,822,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Zacks Investment Management purchased a new stake in Smartsheet in the 3rd quarter worth approximately $4,551,000. Verition Fund Management LLC increased its holdings in Smartsheet by 1,149.0% in the 3rd quarter. Verition Fund Management LLC now owns 322,103 shares of the company’s stock worth $17,832,000 after acquiring an additional 296,314 shares in the last quarter. Maven Securities LTD purchased a new stake in Smartsheet in the 3rd quarter worth approximately $3,875,000. FNY Investment Advisers LLC increased its holdings in Smartsheet by 1,399.7% in the 4th quarter. FNY Investment Advisers LLC now owns 75,254 shares of the company’s stock worth $4,216,000 after acquiring an additional 70,236 shares in the last quarter. Finally, Syquant Capital Sas purchased a new stake in Smartsheet in the 4th quarter worth approximately $15,428,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Sixteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $57.00.

Insider Activity at Smartsheet

In related news, CEO Mark Patrick Mader sold 5,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.07, for a total value of $280,350.00. Following the completion of the transaction, the chief executive officer now directly owns 619,515 shares of the company’s stock, valued at approximately $34,736,206.05. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jolene Lau Marshall sold 2,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $56.18, for a total transaction of $112,360.00. Following the completion of the transaction, the insider now directly owns 17,739 shares of the company’s stock, valued at approximately $996,577.02. This trade represents a 10.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.52% of the stock is currently owned by insiders.

Smartsheet Stock Performance

SMAR stock opened at $56.47 on Friday. The firm has a fifty day moving average price of $56.46 and a 200 day moving average price of $55.60. Smartsheet Inc has a fifty-two week low of $36.27 and a fifty-two week high of $56.55. The firm has a market cap of $7.91 billion, a PE ratio of -941.17, a price-to-earnings-growth ratio of 82.90 and a beta of 0.71.

About Smartsheet

Smartsheet, Inc engages in managing and automating collaborative work. Its platform provides solutions that eliminate the obstacles to capturing information, including a familiar and intuitive spreadsheet interface as well as easily customizable forms. The company was founded by W. Eric Browne, Maria Colacurcio, John D.